Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Boys & Girls Club of Arkansas River Valley Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selection portion of the operations of Boys & Girls Club of Arkansas River Valley Inc., it is not intended to and does not present the financial positions, changes in net assets or cash flows of Boys & Girls Club of Arkansas River Valley Inc.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Boys & Girls Club of Arkansas River Valley Inc. has elected not to use the 10 percent (10%) de minimis indirect cost allowed under the Uniform Guidance.